Economic Overview: The June 2024 Consumer Price Index (CPI) fell by 0.1% month-over-month (MoM) and rose by 3.0% year-over-year (YoY). Inflation eased across the board; JP Morgan saw this as a welcome move with lower shelter price pressures (inflation coming from the housing market). There were also saw favorable declines in gasoline and airfares prices. […]
Waterstone Defeasance recently closed a defeasance transaction for a $31 million CMBS loan, secured by an office property located in Portland, ME. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their property. “Waterstone continues to deliver a high level of expertise for our clients, office properties continue to see […]
Waterstone Defeasance recently closed on a defeasance transaction for a $4.4 Million CMBS loan, secured by a self-storage property located in Manchester, NJ. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property. “Waterstone continues to deliver a high level of expertise for our clients, self-storage properties continue to […]
Economic Overview: The Federal Reserve held interest rates steady at their current range of 5.25% to 5.5%, but revised its outlook for rate cuts to just one in 2024. Central bank policymakers noted that there has been “modest further progress” toward its 2% inflation objective. Federal Reserve Chair Jerome Powell noted at the press conference that […]
Waterstone Defeasance recently closed a defeasance transaction on a $9.3 million FreddieMac loan, secured by a multifamily property in Lexington, KY. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their property. “Apartment financing continues to drive the defeasance market, with lower cap rates despite higher interest rates, owners are […]
Economic Overview: U.S. Federal Reserve Chair Jerome Powell has, once again, appeased investors. Following the latest Federal Open Market Committee meeting, Powell indicated that while interest-rate cuts may be delayed amid stubborn inflation, it is unlikely that the central bank’s next move is a rate hike. This, combined with a slowdown in the pace at […]
Waterstone Defeasance recently closed a defeasance transaction for a $5.5 million CMBS loan, secured by a retail property in Hillsborough, NC. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property. “Retail properties continue to trade during these challenging times, location, location, location. Owners continue to reposition retail properties […]
Waterstone Defeasance recently closed a defeasance transaction for a $11 million CMBS loan, secured by an office property located in San Jose, CA. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property. “Waterstone continues to deliver a high level of expertise for our clients, office properties continue to […]
Economic Overview: U.S. consumer prices increased more than expected in March as Americans continued to pay more for gasoline and rental housing, leading financial markets to anticipate that the Federal Reserve would delay cutting interest rates until September. The third straight month of strong consumer price readings reported by the Labor Department on Wednesday also […]
Waterstone Defeasance recently closed a defeasance transaction for a $31 million CMBS loan, secured by a retail property in Lake Zurich, IL. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their property. “Retail properties continue to trade during these challenging times, location, location, location. Owners continue to reposition retail […]